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Lake Oswego Real Estate Updated Smoke Detector And Carbon Monoxide Law

I was told the other day by a home inspector, that there have been some changes made to the law for installation of Smoke Alarms and Carbon Monoxide Detectors.  Here is the latest:https://lakeoswegorealestateblog.wordpress.com/

Smoke alarms shall be installed in the following locations:

  1. In each sleeping room.
  2. Outside each separate sleeping area in the immediate vicinity of the bedrooms.
  3. On each additional story of the dwelling, including basements, but not including crawl spaces and uninhabitable attics. In dwellings or dwelling units with split levels and without an intervening door between the adjacent levels, a smoke alarm installed on the upper level shall suffice for the adjacent lower level.
  4. Smoke alarms shall be installed not less than 3 feet horizontally from the door or opening of a bathroom that contains a bathtub or shower unless this would prevent placement of a smoke alarm.

When more than one smoke alarm is required to be installed within an individual dwelling unit the alarm devices shall be interconnected in such a manner that the actuation of one alarm will activate all of the alarms in the individual unit. This does not pertain to legally existing dwellings unless work requiring a structural permit is taking place. This information can be found in section R314 of the Oregon Residential Specialty Code.

The installation of smoke alarms and smoke detectors shall comply with the following requirements: 

  1. Smoke alarms and smoke detectors shall not be located where ambient conditions, including humidity and temperature, are outside the limits specified by the manufacturer.
  2. Smoke alarms and smoke detectors shall not be located within unfinished attics or garages or in other spaces where temperatures can fall below 4°C (40°F) or exceed 38°C (100°F).
  3. Where the mounting surface could become considerably warmer or cooler than the room, such as a poorly insulated ceiling below an unfinished attic or an exterior wall, smoke alarms and smoke detectors shall be mounted on an inside wall.
  4. Smoke alarms and smoke detectors installed within a 6.1-m (20-ft) horizontal path of a cooking appliance shall be equipped with an alarm-silencing means or be the photoelectric type but no closer than 10 feet.
  5. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from a bathroom containing a shower or tub.
  6. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from the supply registers or return air opening of a forced air heating or cooling system and shall be installed outside of the direct airflow from those openings.
  7. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from the tip of the blade of a ceiling-suspended (paddle) fan.
  8. Where stairs lead to other occupied levels, a smoke alarm or smoke detector shall be located so that smoke rising in the stairway cannot be prevented from reaching the smoke alarm or smoke detector by an intervening door or obstruction.
  9. For stairways leading up from a basement, smoke alarms or smoke detectors shall be located on the basement ceiling near the entry to the stairs.
  10. Smoke alarms or smoke detectors shall be installed in each sleeping room in the immediate vicinity of all sleeping areas.
  11.  All smoke alarms are to be installed according to the manufacturer’s recommendations.

The National Fire Protection Assn. Article 72 (aka: National Smoke Alarm Code) states that smoke alarms shall not be in service after 10 years. [ref: NFPA 72 – 11.8.1.4 (5)(b) – Smoke alarms installed in one-and two-family dwellings shall not remain in service longer than 10 years from the date of manufacture.] A typical manufacturer and the U.S. Consumer Product Safety Commission recommends replacing smoke alarms every 7-8 years as the sensor weakens.

Carbon monoxide alarms shall be located in each bedroom or within 15 feet outside of each bedroom door. Bedrooms on separate floor levels in a structure consisting of two or more stories shall have separate carbon monoxide alarms serving each story.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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There is an understood economic theory that when the luxury home market slows down, eventually the mid to low-end local real estate market follows suit. Since I have not posted stats for the Lake Oswego Luxury real estate market for some time, I decided to do some checking as we are seeing a slow-down in some areas of our Portland metro real estate markets.

What I found, was 2018 has been a very robust high-end, luxury real estate market compared to last year.

The following stats are YTD comparing 2017 to 2018 for zip codes 97034, and 97035. These luxury home sale stats are from RMLS™:

YTD Stats Lake Oswego Real Estate Luxury Home Sales 2017 vs 2018

2017 Lake Oswego Real Estate Luxury Home Sales

Summary:

# of Houses Sold = 66
Average Days on the Market = 120 days
Average Sq. Ft. Sold = 4207 sq. ft.
Average Sq. Ft. $ Amt. = $396*
% of Sales Price vs. Original List Price = 93.6%
High Sale = $6,300,000
Low Sale = $999,000

https://lakeoswegorealestateblog.wordpress.com/
2018 Lake Oswego Real Estate Luxury Home Sales

Summary:

# of Houses Sold = 88
Average # Days on the Market = 112
Average Sq. Ft. Sold = 4066 sq. ft.
Average Sq. Ft. $ Amt. = $375*
% of Sales Price vs Original List Price: 96.46%
High Sale = $5,950,000
Low Sale = $999,000

https://lakeoswegorealestateblog.wordpress.com/

*Note: The Average Sq. Ft. cost has decreased from 2017 to 2018.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

There has been a lot of discussion in the real estate community about a slow-down in our marketplace.

The other day I posted our latest RMLS™ stats for May. Those stats are obviously 30 days behind the current data. The stats I am posting below are from Altos Research and are the most recent stats as of today. There will be a future blog post about our 97034 Lake Oswego zip code too.

In July, when the June RMLS™ stats are posted, I will write a blog post on what the appreciation rate has been for the past 6 months, as I have been following that data for the year.

This Week Stats Zip 97035

Per the stats above, prices in zip code 97035 – Lake Oswego, have increased by 4% but the increase has been cooling. Inventory continues to increase too. While it is still a sellers’ market, that too is slowing. If the inventory in zip code 97035 continues to increase, it will slowly edge towards a buyers’ market, albeit, we are still a long ways off.

Typically, the month of June is not always a busy month here in real estate.  That is mainly because of graduations, weddings, and people starting their vacations.  I am not an economist, and cannot read the data beyond what is presented at the time.  None of us know for sure if this a definite slow-down or if it will be a continuing trend, or if it is only a seasonal blip.

Looking back is far easier to see what the trend has been. Looking forward is far more difficult.  Again, no one has a crystal ball and none of the economists seem to ever get it correct either.

Courtesy: Altos Research and First American Title Insurance Company

Short Sales & Foreclosures

While this most certainly is not on our radar, I have seen several short sales and approximately 5-8 Lake Oswego foreclosures lately.  This, at this point in time really doesn’t mean a lot in its entirety, but I am also watching those properties.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

I was anxiously awaiting our latest RMLS™ Market Action report for May.  Many of the Facebook real estate groups I am in are indicating there has been a slow down. Please note these stats are for the month of May and are 30 days behind the market and does not show what is actually happening today in our Portland metro areal estate markets.

Further, many folks think from April to June is a busy real estate time, when in reality, people start going on vacations, there are graduations, weddings, and people filing their income tax returns and waiting for their tax refunds, if they are fortunate to get one lol.

The increase of listings for sale, will slow the market. There are more and more properties coming on the market for sale, especially in Lake Oswego.

However, I am still seeing multiple offer situations, especially those where I have written offers.

Where I am seeing multiple offers is in the multi family and fixer type of properties. Also houses under $400,000. I have been in two multi offer situations on multi family properties where there were 4 offers on each. In 2 fixer uppers where there were 11-15 offers (and one sold over $100,000 over asking just recently) and where I wrote that offer on a single family home under $400,000, it had 5 offers and another single family home that had 8 offers.

Investors are out there and Portland has a lot of cash. I also am seeing sellers asking ridiculous prices, way over what the neighborhoods will bear, and they are just sitting on the market. In recent open houses I have had at least 15-20 buyers through each time – buyers are out there. However, I think they are tired of seeing escalating home prices and not wanting to pay those higher prices.

RMLS™ Market Action Report May 2018

As inventory levels increase, prices will not escalate as dramatically as we have seen. If those levels continue to increase, and again we are 30 days behind in current market activity, prices will begin to level off.

May Residential Highlights

New Listings

New listings made some gains this May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month.https://lakeoswegorealestateblog.wordpress.com/

Closed Sales

Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a11.1% increase from last month in April 2018 (2,523).

Pending Sales

Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008).

Inventory of Houses For Sale

Inventory in the Portland metro area remained unchanged in May.

Days on The Market For Sale

During the same time, total market time decreased by five days to end at 37 days.

Year to Date Summary

Activity so far in 2018 is a little mixed compared to 2017. New listings (17,506) are up 4.9%. Closed sales (11,492) are down 0.2%, and pending sales (13,360) are down 0.8%.

Average and Median Sale Prices

https://lakeoswegorealestateblog.wordpress.com/Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0 from $370,000 to $399,500.

SUMMARY
We are still in a sellers’ market and will remain in one until our inventory of houses reaches at least 5-6 months. In spite of a lull right now, as soon as we get closer to the start of school, there will once again be a frenzy to purchase. However, the number of active listings have increased, and the number of pending sales (current market activity) has decreased.

There are some that are saying we will have a recession in 2020. I don’t rely heavily on that type of information, as no one has a crystal ball and many predictions have been wrong in the past. My concern however, is that Portland is no longer a “top destination” for move-ins.  We were at #1 for a long time and I have seen some reports that we are in the top 3 and others saying we are now #18. I do know that people moving into our state has also slowed down.

Lake Oswego Real Estate Market

For the month of May 2018, there were 522 active property listings for sale, compared to 2017 at this time when we had only 382.There were also 175 sales in this May vs. 161 in May 2017. In addition, prices have escalated YTD in May 2018 by 7.5% in the Lake Oswego/West Linn real estate markets, compared to 9.1% in 2017. There currently is 2.9 months of houses for sale in Lake Oswego/West Linn. In 2017 in May, there was 2.3 months of inventory available.  I am noticing the number of houses coming on the market in Lake Oswego/West Linn increase since last month.

I have stated many times here that our market has not been as “hot” as it was last year or 2 years ago.There has been a gradual slow-down all along. Our RMLS™, combines stats for Lake Oswego/West Linn.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate. I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

As we head into the busiest time of year to purchase a home, perhaps you thought you wouldn’t be able to qualify for a loan, therefore you put your search on hold? Here are some programs you probably can qualify for.  If you need additional help, give me a call or email, and let’s get started with your search. Or if there is additional financing you would like to know about, I can give you that information too.

Lake Oswego Real Estate Clackamas County Low Income Buyer Purchase Programs

Clackamas Home Buyer Assistance Program

Detail Verified 6/1/2018 – Last Updated 4/10/2018

Clackamas Homebuyer Assistance Program is a zero-percent interest deferred-payment loan for up to $14,000 to help qualified first-time homebuyers pay for down payment and reasonable closing costs.

FHA 203(b) Loan

Detail Verified 6/1/2018 – Last Updated 3/21/2014

A standard fixed rate loan for 1-4 family owner occupied houses with 3.5% down payment.

Good Neighbor Next Door

Detail Verified 6/1/2018 – Last Updated 8/11/14

A program for law enforcement officers, pre-kindergarten through 12th grade teachers and firefighters/emergency medical technicians. They can contribute to community revitalization while becoming homeowners through the Housing and Urban Development (HUD) Good Neighbor Next Door Sales Program. Single family properties owned by Housing and Urban Development (HUD) as a result of foreclosure of Federal Housing Administration (FHA)-insured mortgages and located in a Revitalization Area are eligible for sale through special programs at discounts. These Housing and Urban Development (HUD) programs include the Good Neighbor Next Door. Housing and Urban Development (HUD) offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence. Housing and Urban Development (HUD) requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement.

HUD 203(K) Rehabilitation Loan

Detail Verified 6/1/2018- Last Updated 6/12/12

A government sponsored program designed to allow owner-occupants to obtain one loan for the purchase of residential property (1-4 units) in need of rehabilitation, repair, or and/or modernization. Loans include funds for rehabilitation work.

HUD Streamlined 203(K) Limited Repair

Detail Verified 6/1/2018 – Last Updated 6/12/12

A program that permits homebuyers to finance up to $35,000 into their mortgage for home improvements or upgrades before move-in. Property repairs to be identified by a home inspector or Federal Housing Administration (FHA) appraiser.

Oregon State Bond Cash Adv. Home Loan

Detail Verified 6/1/2018 – Last Updated 11/3/14

A program that helps eligible families increase their home purchasing power and lower their monthly house payments to be affordable. Eligible borrowers receive cash assistance to assist with closing costs.

Oregon State Bond Rate Advantage Home Loan

Detail Verified 6/1/2018 – Last Updated 11/3/14

A program that provides eligible borrowers with the lowest fixed rate possible to maximize their home purchasing power.

Section 184 Indian Home Loan Guarantee Program

Detail Verified 6/1/2018 – Last Updated 1/22/2018

A program that provides home ownership opportunities to Native Americans, Tribes, Tribally Designated Housing Entities (TDHEs), through a guaranteed mortgage loan program available through private financial institutions.

USDA Single Family Housing Guaranteed Loan Program

Detail Verified 5/8/2018 – Last Updated 3/4/15

A loan program that provides up to 100% financing for households with an income up to 115% of the median income for the area. The Guarantee eliminates the need for a down payment. Customers receive 30-year loans with fixed interest rates. Guaranteed Single Family Housing Loans are originated by approved mortgage lenders to assist qualified low to moderate income households in eligible rural areas.

USDA Single Family Housing Direct Home Loans

Detail Verified 5/8/2018 – Last Updated 1/22/2018

Also known as the Section 502 Direct Loan Program, this program provides Single Family Housing loans in rural areas to eligible moderate, low, and very low-income applicants who are unable to obtain credit elsewhere. Under this program, low and very low income applicants may obtain 100% United States Department of Agriculture (USDA) direct financing to purchase and/or repair a home. Payment assistance is available. The amount of United States Department of Agriculture (USDA) subsidy varies based on an annual review of household income. The loan may be to purchase and/or repair existing housing, purchase a building site and construct a dwelling, purchase a newly constructed dwelling, or new manufactured housing. These homes must be owned and occupied by the borrower and be in a rural area.

USDA Single Family Housing Repair Loans and Grants

Detail Verified 5/8/2018 – Last Updated 3/4/15

Also known as the Section 504 Home Repair program, this program offering grants and 1% fixed interest rate home repair loans to very low-income homeowners in rural areas and communities with a population of 35,000 or less. Program funds may be used to improve or modernize a home or to remove health and safety hazards for owner-occupied single-family residences.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

It has been a really busy Spring real estate market and forgot to post that I have now been writing my blog for 10 years (originally on a different site that got lost over 7 times in cyberspace!). Who would have guessed I had that much to write about – and I’m not done yet!

Real estate is ever-changing – people are all different, houses are different, situations are different and laws and rules are always changing.

It has always been my belief that the more you know, the better decisions you can make.  Since 1978 I have been writing a newsletter – Jung’s Journal – that I send to my past clients, people I know and to certain neighborhoods in Lake Oswego.  My newsletter contains information that you won’t find here and this blog has information you won’t see in my newsletter or on my Facebook blog either.  I try to make my writings interesting and informative and change things around.

Lake Oswego Real Estate Blog Anniversary

My blog’s formal name is ALL ABOUT…..Lake Oswego Real Estate.  You may be wondering why I called my blog that and why I type the title in a certain way.

You’re probably thinking that since this blog is all about real estate and Lake Oswego thus the name. DO NOT COPY! Well, that isn’t the reason at all. There was a series of children books in the 1950s (now https://lakeoswegorealestateblog.wordpress.com/collectibles) entitled “ALL ABOUT….” Each book was written about a specific and different subject; i.e. “ALL ABOUT…..Park Rangers”, “ALL ABOUT…..the Sea”, etc. Therefore, since real estate is such a vast subject with so many topics, I thought that would be a great name.

My hope over all this time was and still is to keep you informed on the latest real estate happenings in Lake Oswego, its surrounding areas and neighborhoods, writing about Oregon and national real estate trends as well. With my experience and education, I have lots to share and, hopefully, you will personally benefit from all that I have learned. In addition, Lake Oswego, Oregon is a wonderful place to live and I’d like to continue to introduce it to you through my eyes, photographs and words.

Thanks for your continued support and readership.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

This is a topic I have been wanting to write about for some time, and in fact, was asked about this on a listing appointment with a seller just this past weekend.

Lake Oswego Real Estate Love Letters

On my listings, buyers have submitted love letters.  When I have presented an offer, and on occasion when a listing agent asks for one, I too have submitted a love letter.  However, there are many buyers that are reluctant to submit a love letter.Copyright bettyjung.com

Here is a blog post from another real estate agent I know from Facebook who wrote about this topic today.  She is a Principal Broker of her own company and writes on her St. Paul Real Estate Blog. I would like to share her post rather than me trying to reinvent the wheel.

I will share some of my further thoughts at the end of this post:

Real Estate Love Letters

an offer on your home will be accompanied by a “love letter”.  There isn’t anything wrong with a love letter as long as the letter is mainly about the house and how much the buyers like the property.

Buyers could make an offer and include a letter about how much they like the house and admire the gardens and love the neighborhood. I once had a seller who accepted an offer mainly because of a love letter.

Usually, those love letters never make it to my home seller clients. I ask them if they want to see the letter and encourage them to say no. Why would I do that? Because I am concerned about fair housing violations. If a seller chooses one offer over another based on the family status of the offerer or how the buyer looks that might be a fair housing violation.

As a real estate broker and agent, I can not help any of my clients discriminate against anyone who wants to buy a house.

Usually, when I explain fair housing to my clients they decide not to view the buyer’s love letter.

Buyers who choose to write these letters should omit pictures of themselves and their families and focus on the house they are making an offer on. They may want to include personal information about where they work or what they do for a living.

When the buyers do not know the sellers they can put information in the love letter that has a negative impact.  Maybe the house is on the market because of a death or divorce or financial problems.

I meet homeowners who tell me their home should be sold to someone who will fill it with children. Choosing a buyer based on family status is a fair housing violation.

What Should Be In A Love Letter?

As Teresa Boardman explains above and correctly so, it is more important the letter you submit to a seller talks about the house, gardens etc. and why you love the seller’s home, rather than writing about yourself or your family.  I can think of several scenarios where Fair Housing might come into play with love letters being written and presented.

I am not against love letters, but in all the companies I have worked in, our attorneys have said not to write love letters.  Buyers want that extra edge, but they may not get those extra brownie points when writing a love letter.  A love letter should be written carefully, if at all.

Learn more about the Fair Housing Act here.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Yesterday, I was reminded how important one of our State Laws is in regards to homeowners/renters and that lives are being saved because of it.

Lake Oswego Real Estate Law To Protect You

Two incidents occurred yesterday, on the same day, and many lives were saved as a result of this law.  The law was officially put in place in 2009.

What I am referring to is the law that homes need to have Carbon Monoxide Detectors – the COAlarmLaw.

Carbon Monoxide Detectors

These two incidents happened on the same day:

  • On my way to an appointment for a home inspection, I stopped off at my local dry cleaners.  The gal there told me how they had to evacuate their home the night before due to their carbon monoxide detector alarm going off.  Thankfully it went off, because the firefighters told her that their carbon monoxide detector was on its last leg and would be expiring within a couple of days.  Had it been a couple more days, they probably would not have been warned, and the consequences could have been dire.
  • Right after going to the dry cleaners, I went on to my home inspection for a sale pending I have.  Once there, almost the same thing happened.  During the home inspection, the inspector found gas fumes and carbon monoxide entering the home.  The inspector immediately shut off the gas.  He too said that the CO Alarm would be expiring in under 30 days and again, those sellers might not have received a warning to leave the home due to deadly fumes and toxins.

You may remember recently an entire family died in Mexico because of carbon monoxide poisoning.

Expiration Dates For Carbon Monoxide Detectors

What I never knew until yesterday was that the Carbon Monoxide Detectors have expiration dates just like smoke alarms.  Some expire in 5 years, others 8 to 10 years.  The law I posted above doesn’t mention that they expire.

If you purchased a home after 2009, you may be facing a potential risk with deadly results if you don’t have a functioning carbon monoxide detector.  Yours could have already expired by now or will shortly. It is really important for you to check the expiration date for your carbon monoxide detector.

For a minimal price, you could be saving your own life and your family.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Once again we edged up only slightly in inventory.Certainly not enough to meet buyer demand in this Spring real estate market, yet alone as we enter our busiest buying season going into Summer.

Lake Oswego Real Estate April 2018 RMLS™ Market Action Report

April Residential Highlights

Closed Sales

Closed sales saw an upswing this April in the Portland metro area real estate market. There were 2,523 closings, a 13.7% increase over April 2017 (2,219) and a 6.4% increase over last month in March 2018 (2,371).

New Listings

New listings (3,990) saw gains as well, outpacing April 2017 (3,759) by 6.1% and March 2018 (3,648) by 9.4%.

Pending Sales

Pending sales, at 3,008 in April, fell 2.6% short of the 3,088 offers accepted last year in April 2017 but edged 3.9% over the 2,894 offers accepted last month in March 2018.

Inventorybettyjung.com

Inventory increased by a fraction of a month in the Portland metro area in April, ending at 1.8 months. During the same time, total market time decreased to 42 days. There were 4,469 active residential listings in the Portland metro area this April.

Average and Median Sale Pricesbettyjung.com

Comparing the average price of homes sold in the twelve months ending April 30th of this year ($436,800) with the average price of homes in the twelve months ending April 2017 ($406,400) shows an increase of 7.5%. In the same comparison, the median has increased 9.1% from $355,300 to$387,500.

Lake Oswego Real Estate Market

Lake Oswego had 2.2 months of inventory in April 2018, down from 2.6 months in March 2018. There is still a shortage in most, if not all, of our real estate markets throughout Portland.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

NEW PRICE – $459,900!

PROPERTY LINK HERE:

www.bettyjung.com/13431sw62ndavepdx

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

MORE Realty, Inc.
14945 SW Sequoia Parkway, #150
Portland, OR. 97224

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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